It was the week of central banks announcements. But frankly speaking nothing new has happened. ECB let rates unchanged and so to say the Bank of England. Mario Draghi admitted that euro area growth is still under question and that we may expect prolonged period of low inflation. This brings us back to the question
We already know that ECB is prepared to use so called OMT mechanism to buy on secondary markets government bonds in trouble. The only thing we know is that ECB is prepared but close details were never revealed to public. But the rhetoric was so strong that markets calmed down for now. Lower interests’ rates
Haiya is the name for the biggest hurricane ever which was heading towards Filipinas this week. According to experts there is not almost nothing built on the Philippines that can withstand winds like that. We know natural disasters very well but do we heading into the some which are caused by men? Very probably yes.
So it happened. Finally. The recession is over. The 0.3 % growth is considered as the end of it. Not so hurry. Cautious is also Mari Draghi who said that he is very, very cautious about prospects for growth and added that Syria situation could lead to some geopolitical risks. The rates remain record low.
The war against gold continued in India. Many Indian customers find out this week that it is no longer possible to purchase gold by credit card. The Reserve Bank of India is leaving no stone unturned to discourage gold buyers in India. Indian consumers tend to convert gold purchases into equated monthly installments of three
First two days of the week were quite normal and both metals stayed plus or minus on the same levels. Both prices significantly jumped on Wednesday. Silver was for a while over $ 20 but then closed a little bit below this level. The next day gold almost touched $ 1300 but as day before
Due to the fact that Indian government imposed higher taxes on gold imports and new restriction on banks to sell gold (e.g. limits of sale per customer) gold smuggling has gone up several notches in India. Officials pointed out that smugglers and buyers of smuggled gold tend to save on import duty as well as
The market calmed down this week after two weeks downtrend really. It seems to that both metals took a new breath and heading higher. Silver almost touched $ 20. But finally we were moving most of the time within $ 1240 and $ 1260 zone on gold. Silver tried to stay over $ 19.5 most
As prices of precious metals were smashed down mining companies must accommodate to the new environment. The world’s largest gold mining company Barrick Gold has announced plans to slash about 40 positions in Nevada, 15 in Salt Lake City and five to 10 elsewhere in the region. It is just a very small part of
I did not expect that we break $ 1200 level this week. Personally I was thinking that market do it during next two or two and half weeks. But it happened. From the beginning of the week we saw downtrend on both metals. We broke $ 1250 on gold and $ 19 on silver on